What are the responsibilities and job description for the Mortgage Loan Officer position at Umpqua Bank?
Originate residential mortgage loans through solicitation and developing relationships with real estate professionals, builders, and other business referral sources. To successfully produce the numbers you are assigned, you will need to maintain a quality network of business relationships that serve as recurring sources of referrals for new mortgage lending opportunities for you and growth for the bank. In this role, your compensation will be based on your ability to produce consistently and you're most likely to succeed if you come in with an existing book of business.
Functions
- Participate in business related development opportunities, community and bank events in an effort to promote homeownership.
- Develop and execute marketing plan based on monthly and quarterly production standards. Works with manager to constantly improve performance and exceed minimum monthly standards as set forth in the compensation schedule.
- Conduct interviews with prospective borrowers to analyze financial and credit data, determines customer financing objectives, advises customer on product/pricing policies and guidelines, and gathers all additional required information in order to complete an error free disclosure to the customer.
- Analyze the various mortgage products available to the customer based on the information provided.
- Employ independent judgment and discretion to recommend a mortgage product or products that are suitable for the customer's financial situation and consistent with the customer's overall financial goals.
- Obtain all required documentation as required (i.e. appraisals, title reports, financial information, pulling credit), by taking complete applications, analyzing information and is accurate with supporting documentation to allow a seamless disclosure, process and approval on the loan file.
- Maintain overall responsibility for the loan file and documentation through processing underwriting, closing, funding and post-closing by following the transaction through to its conclusion.
- Convey to customers and other associates the advantages of the company and various financial products the company offers through other areas of the bank.
- May be asked to coach, mentor, or train others and teach coursework as subject matter expert. Responsible for other duties as assigned.
- Demonstrate compliance with all bank regulations that apply to your position, and keep up to date on regulation changes.
- Maintain working knowledge of our policies and procedures regarding the Bank Secrecy Act, Regulation CC, Regulation E, Bank Security and other regulations that apply to your position.
Registered Mortgage Loan Originator (MLO)
This position requires you to act as a Bank MLO, which is defined as an individual authorized by the Bank to take mortgage loan applications, offer a mortgage, arrange a mortgage, assist a consumer in obtaining or applying to obtain a mortgage, negotiates a mortgage, otherwise obtain or make a mortgage for another person, represent to the public (through advertising or other means of communication) that such person can or will perform any of these activities, or, refer a consumer to a loan originator (Note: Except those employees of the Bank who do not discuss particular credit terms available and do not refer the consumer, based on the employee's assessment of the consumer's financial characteristics to a particular Bank MLO), for compensation or gain. All MLO's will be required to register as a MLO complying with the S.A.F.E. Act requirements.
This position is authorized to act as a Bank Closed-End MLO which is defined as any position designated to perform the activities of a Bank MLO for closed-end transactions, and thus subject to specific Truth-in-Lending Act and Regulation Z Loan Originator requirements.
Qualifications
- Mortgage originating and structuring experience.
- Demonstrated knowledge of the home lending industry, including processing, underwriting, closing and funding loan.
- Excellent analytical and problem-solving skills.
- Experience collecting and analyzing borrower income and negotiating skills.
- Demonstrated ability to analyze a customer's particular financial and housing situation and make appropriate recommendations for mortgage and other financial products based on that analysis.
- Excellent written and verbal communication.
- Ability to organize and prioritize, manage and perform multiple tasks.
- Detail-oriented and able to meet strict deadlines.
- Ability to work effectively with individuals and groups across the company to manage internal and external customer relationships.
- Proficiency with personal computers and related software packages such as Word and Excel, and other business machines.
- Previous mortgage self-generated origination/sales experience required.
- Requires a bachelor's degree in business, finance, or equivalent.
- Must be registered as a MLO as per the S.A.F.E. Act requirements.
- Ability to train and present to small and large audiences or has the interest in learning to train and present.
Physical Requirements and Working Conditions
Work involves:
- Sitting
- occasional walking
- lifting up to 10 pounds
- Occasional travel.
- No relocation offered.
About Us
We do things a little differently here at Umpqua. Our retail stores serve as community hubs, our associates are given up to 40 hours of volunteer time each year, and we're never satisfied with the status quo. It's no wonder we've made "Fortune's 100 Best Companies to Work For" eight years in a row. But greatness has no finish line, so we continue every day to keep people at the center of everything we do. We focus on building relationships, understanding our customers' needs and connecting to people in new and innovative ways - always staying true to our mission of providing personalized banking for all people, whenever and however they prefer to bank.
Umpqua Bank is committed to employing a diverse workforce. Qualified applicants will receive consideration without regard to race, color, religion, sex, national origin, age, sexual orientation, gender identity, gender expression, protected veteran status, or disability. We maintain a drug-free workplace and may perform pre-employment substance abuse testing.
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